Selling prices are on the rise again...
Commercial property consultants CBRE Ireland has released new figures which show that the value of pub sales in Dublin during 2016 was greater than €43m as 30 pub properties changed hands.
That compares to 35 pubs being sold for €40m in 2015.
Some notable Dublin pub properties that sold in the last 12 months include Kennedy’s on Westland Row in Dublin 2, Kennedy’s in Drumcondra, Dublin 9 and Howl at the Moon on Mount Street in Dublin 2.
Source: CBRE Research Ireland
John Ryan from the Hotel & Licensed Department at CBRE Ireland, "The number of Dublin pub properties changing hands in 2016 was down on the previous year, with 30 Dublin pubs having sold last year compared to 35 in 2015. Conversely, an improvement in trading conditions in Dublin is reducing the number of licensed properties that are being offered to the market for sale.
"There are now fewer instances of distressed sales in this sector of the market with a notable increase in the number of consensual pub sales over the last 12 month period in particular."
He adds that these trends are expected to continue in 2017 and that pub values will continue to rise.